4 Things You Didn’t Realize Your Business Insurance Would Cover

​After years of work, it is time for you to have your own business. In order to protect your business, you need to purchase business insurance. Business insurance can vary depending on which risks you are faced with. For example, your business depends on the clients you work with, the type of work your business does, and whether or not you have employees. Here are four types of insurance that could protect your business from future troubles.

Workers’ Compensation
If one of your employees or programmers gets into an unfortunate car accident on his way to a client, then he must have suffered serious or multiple injuries during the crash. Since this accident happened while he is on duty, then the company should foot the bill. Your business insurance policy may actually pay for lost wages, the cost of physical rehabilitation, and death benefits for the employee’s family in the event that he dies at work.

Business Property Insurance
A violent windstorm or an earthquake can cause damage to your office or rip a hole in your roof. Flooding or fire can also destroy your business property. Your business property insurance can save you money in cases of damage from fire or bad weather, or from theft and vandalism as long as these have been proven valid by the investigation.

Liability
If you have an IT business, then your business insurance should cover cyber liability such as data breaches, business interruption, and network damage. Additionally, many policies will not cover the destruction of data especially if your data is stolen or hacked. The good thing is that your business insurance will protect you from possible lawsuits or damage that results from the loss of data or from a similar problem in your business.

Excess Liability
Your commercial umbrella insurance can help cover expenses pertaining to excess liability such as worst-case scenarios that exceed those provided by general liability insurance. Sometimes, even $1,000,000 is not enough to pay for the damages and the liability incurred by damage to the business. In case the damages exceed the provided insurance for general liability, auto liability or worker’s compensation, then this type of business insurance policy could be a good option.

Some Final Words
As a business owner, you should know the type of insurance your business needs so you can prepare for any trouble that could happen. As you enter the world of business, you badly need to purchase a business insurance policy in order to protect your business from any future problems. 

At Oncken Insurance Agency, we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays and we're here to help you out. Learn more about our products and services by calling our agency at (281) 256-8310. You can also request for a free quote by CLICKING HERE.